Omaha daily bee., 1887-12-28
THE SPECULATIVE MARKETS.
Wheat Shows Up With Strong
Tone After the Holidays.
CORN ALSO EXHIBITS FiRMNEss.
Oats Move Along on an Up Grade With
the Other Cereals - Provisions
Show Bullishness - Cattle
AUTHORIZATIONS.
CHICAGO PRODUCE MARKET.

CHICAGO, Dec o7.-[Spccial Telegram TO the
Bee The holiday had not diminished the
strength of the wheat bulls, apparently, and
there was no sign of weakness in the market
during the morning session May wheat
opened at Si3lo, which was sc better than
last Fridays closing price There was an
immediate advance to SIC and for some time
the price hung between S41Ic and s5sc with
q fair amount of business, which was largely
Of local character. There was good buying,
however, for New York account early and
that market rather led this in the advance
and in strength. The burden Of 1,OOO,OOO
bushels added to the visible supply was borne
by the market with only a weakening OF sc,
and this was very soon more than recovered 1t
was rather more than had been expected this
morning. but there had been even larger es-
Inmates at the close Of last week. Ayear ago
to-day the increase was sol 600 bushels. Crop
news from the winter wheat sections is not so
much talked about now, but there are still re-
ports of damage by freezing where there is no
show to protect the plant The market ad-
vanced slowly to S5a4c and then fell back 10
s5l4c on the visible supply announcement,
but just before the close considerable wheat
seemed to be wanted by three or four COM
mission houses, and the price advanced to
S513c, where it rested at O'Clock.
May corn, which opened at 54c, sold down
to 53s4M531Ec, but later advanced TO 5i3sc,
and when the visible supply statement came,
showing an increase of 4OS 900 bushels, which
was more than expected fell of to "a 1s@544c
advancing again just before the close: when
provisions began TO show cohsiucraDle
strength, to 54a40t5415c, where it rested at
o'clock January corn opened at 4S13c, fell
TO 4Ss1c, sold up to 49c and closed there at
o'clock
The speculative oat market went along
with the others on the upward grade, but not
quite so far. Trading was in greater volume
than usual and was entirely in the May de-
livery. That delivery opened at 33Bc and
never fell below that price. There was some
thing of struggle to get beyond the 34c
notch, and then the advance continued to
@14c, where the price stood at o'clock.
The provision trade exhibited bulllsh
tendency. The light run of hogs locally
and at outside points made traders OF all
classes feel friendly toward the market
The opening was characterized by a strong
undcrtone, and as the day advanced prices
appreciated with no particular setback or
variation. Advance followed advance, in
fact, and, as compared with Fridays clos
ings, o'clock prices showed an Improvement
of SOC in pork, 10Ml21ac in lard and 71ac in
short ribs.
AFTERNOON SESSION - Wheat stronger;
May sold from S5l2c to S51sc, closing at S534c.
Corn firm; May opened at sac and sold at
543sc up to 5iHc, closing at 54s4c. Oats
firmer. Pork advanced nc and closed at
$l5.171Ic for January, sl5.35 for February
and sl5.S213 for May Lard was 2l9c higher,
March at $500 and May at sS,02l9. Short
ribs sold &c higher and closed at S1.15 for
January, s1.s5 for February, s7.95 for March
and 81. 15 for May.